See given problem determine the price of a ticket so that, Ask an Expert

Management Studies

See given Problem. Determine the price of a ticket so that not buying a ticket is the preferred option and determine the chance of winning so that not buying a ticket is the preferred option.

Problem :
Alega City Hospital is selling lottery tickets. All proceeds go to its cancer research program. Each ticket costs $100, but the campaign catchphrase promises a 1-in-1000 chance of winning the first prize. The first prize is a "dream" house, which is worth $250 000. On the basis of decision tree analysis, is buying a ticket worthwhile?

View complete question

Business Management, Management Studies

Category:- Business Management
Reference No.:- M92184767

Have any Question?Write your Review or question?

Related Questions in Business Management

1 how could a manager educate stakeholders on effective

1) How could a manager educate stakeholders on effective risk management? 2) How risk management should relate to the scope, schedule and budget?

Has to be in apa format for documentyour company has seen

Has to be in APA format for document. Your company has seen important internal projects go off track during execution. After the fact analysis has revealed the common factors of inadequate controls and unremarkable but u ...

Please respondwhat are some other ways to troubleshoot

PLEASE RESPOND What are some other ways to troubleshoot reduced speed or latency? Or to find out what is using all the bandwidth? Perhaps might incorporate parts of this into own three issues.

What pressures do leaders face that challenge their ability

What pressures do leaders face that challenge their ability to work ethically?

Identify a leader that has used power and influence in a

Identify a leader that has used power and influence in a harmful way. Identify an additional leader who has used power and influence in a positive way. For both of these leaders, state your thoughts on their motives for ...

Some goods are normal goods at lower income levels and

Some goods are normal goods at lower income levels and inferior goods at higher income levels. One example is the fast food category in the US restaurant industry (e.g., McDonalds). In this case, lower income consumers w ...

One of the most important strategic questions for any

One of the most important strategic questions for any company is where to compete. What are some of the common criteria that firms employ to determine suitability of potential global markets?

Sonya the manager of a restaurant has just hired three

Sonya, the manager of a restaurant, has just hired three servers. As part of their training program, she wants them to first learn by watching another, current server act out his job. Based on what you know about social ...

How do you think diversity communication and organisational

How do you think diversity, communication and organisational structure could potentially constitute strong aspects of organisational culture? Why is it important for the manager to consider this relationship?

1 what is a trade deficit are trade deficits good bad

1. What is a trade deficit? Are trade deficits good, bad, or neutral? 2. Why does the U.S. have a trade deficit with Japan, according to the op-ed?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Management Expert